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Report No. : |
336138 |
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Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
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Name : |
AL LUJAIN
FOODSTUFF FOR PACKING AND PACKAGING EST |
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Registered Office : |
Canada Dry Street, Shuwaikh Industrial Area, P O Box: 4890, Safat 13049 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
28.03.2005 |
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Com. Reg. No.: |
35531 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import, packaging
and distribution of rice, dried food, tea and sugar. |
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No. of Employees : |
21 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Kuwait |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
KUWAIT - ECONOMIC
OVERVIEW
Kuwait has a geographically small, but wealthy, relatively
open economy with crude oil reserves of about 102 billion barrels - more than
6% of world reserves. Kuwaiti officials plan to increase oil production to 4
million barrels per day by 2020. Petroleum accounts for over half of GDP, 94%
of export revenues, and 89% of government income. For the last decade, high oil
prices have generated budget surpluses despite increasing budget expenditures,
particularly on wage hikes for public sector employees. Despite Kuwait’s
dependence on oil, the government has cushioned itself against the impact of
lower oil prices by continuous saving of at least 10% of government revenue in
the Fund for Future Generations. Kuwait has done little to diversify its
economy, in part, due to a poor business climate and an acrimonious
relationship between the National Assembly and the executive branch that has
stymied most economic reforms. In 2010, Kuwait passed its first long-term
economic development plan in almost twenty-five years. While the government
planned to spend up $104 billion over four years to diversify the economy away
from oil, attract more investment, and boost private sector participation in
the economy, many of the projects did not materialize because of the uncertain
political situation.
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Source
: CIA |
Company Name : AL LUJAIN
FOODSTUFF FOR PACKING AND PACKAGING EST
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 28th
March 2005
Commercial
Registration Number : 35531
Trade Licence
Number : 24795
Chamber Membership
Number : 93884
Invested Capital : KD 80,000
Total Workforce : 21
Activities :
Packaging and distribution of rice, dried food, tea and sugar
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Khalid Zaid Al
Khalid, Proprietor & General Manager
AL LUJAIN FOODSTUFF
FOR PACKING AND PACKAGING EST
Street : Canada Dry Street
Area : Shuwaikh Industrial Area
PO Box : 4890
Town : Safat 13049
Country : Kuwait
Telephone : (965) 24810803 / 24839003 / 1809980
Facsimile : (965) 24839244
Email : buzaid@outlook.com / alkhalid@q8online.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Safat.
Name Position
·
Khalid Zaid
Al Khalid Proprietor
& General Manage
·
Tariq Al Sebai Finance
Manager
·
Yousef Ahmed Commercial
Manager
Date of Establishment : 28th
March 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 35531
Trade Licence No. : 24795
Chamber Member No. : 93884
Invested Capital
: KD 80,000
Mr Khalid Zaid Al
Khalid is the sole proprietor of the business.
Activities: Engaged in the import, packaging and
distribution of rice, dried food, tea and sugar.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 21 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinar (KD)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales KD 1,530,000 KD 1,655,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
No complaints
regarding subject’s payments have been reported.
Local sources report
that subject meets its payments in a timely manner and is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.83 |
|
|
1 |
Rs.101.00 |
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Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.